EPTI AB (publ) publishes the Annual Report for the financial year 2022. The Annual Report is attached to the press release and is available at the company's website: www.epti.com Correction of year-end report 2022The company has discovered...
EPTI AB ("EPTI") today announces that the company's Board of Directors has adopted a new strategy whereby EPTI will become a pure-play investment company focusing on artificial intelligence (AI). As part of the new strategy, EPTI will wind down the business area EPTI Service and divest current investments with no clear link to the new focus area. The shift in strategy aims to consolidate EPTI's position as a leading player in AI and enable increased growth and profitability.
"The new strategy is partly a return to becoming a pure investment company, but in an exciting new area that offers great opportunities. EPTI's technical experience and expertise are crucial for both finding new potential investments and supporting the companies to achieve commercial success after the investment," says Hans Isoz, Chairman of the Board, EPTI.
EPTI is already today an innovative and technology-orientated investor that aims to increase the productivity and profitability of its investments through new technology. Recently, successful AI implementations in several of the company's portfolio companies have contributed to the goal, and the board sees an opportunity to further accelerate the work to enable long-term growth and profitability. In addition to implementations of AI-based services, the investment portfolio includes several pure AI companies, including Oodash, which is developing a ChatGPT for enterprise data. EPTI’s existing portfolio comprises 16 technology-oriented companies that utilise AI technology to varying degrees.
”EPTI has always been dedicated to driving innovation in the technology space and has actively worked with AI development since 2018. For example, for several years, we have built Oodash, which enables business leaders and decision-makers to "talk to their business" through an interface not unlike ChatGPT – based on the company's own data. Other successful examples are our portfolio company Apotekamo, where we have used AI to increase both customer conversion and the value of the customer basket, as well as Linky, where we are currently implementing an AI-based customer service," says Arli Mujkic, CEO and founder, EPTI and adds:
"The development in the sector is exponential and will be completely world-changing. To remain relevant and at the forefront, we need to focus on investments and the technology that will change how we build, design, and consume technology in the future."
Today, EPTI consists of two business areas: EPTI Service, which includes a consultancy business within technology and IT, and EPTI Invest with a number of portfolio investments. The new strategy builds on the company's strong expertise in the area and means that EPTI will focus on investments that implement the latest AI technology. Going forward, EPTI intends to be an active owner and thereby contribute to strong and long-term value creation for the company's shareholders. This also means that EPTI intends to divest portfolio companies that are not deemed to be able to utilize AI to any great extent.
EPTI's parent company estimates to reduce costs by approx. SEK 14 million on an annual basis as a result of the new business focus.
For further information, please contact:
Arli Mujkic, CEO, EPTI AB
Phone: +49 176 626 999 64
EPTI is an investment company focusing on artificial intelligence (AI). The company has a deep understanding of the latest AI technologies and actively guides its portfolio companies with implementation and development of AI-based services. The headquarters is located in Stockholm. EPTI's shares are listed on Nasdaq First North Growth Market and admitted to trading on Börse Frankfurt Open Market.
For more information, see EPTI’s website www.epti.com
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